With increasing number of online trading, the role of discount trader has become more vital. A discount broker provides various services to the investor to facilitate the activity of trading at a reasonable discount charge rate. In other words,a discount broker is a registered brokerage firm who runs the activity of trading when the investor places trade orders at a discounted commission. In order to pass more and more benefits to the investors, these brokerage firms dispense their great discounts.
The discount Brokers offer their services at much reduced rate as compared to the full time brokers. The tools and the products they provides have many good features like Indicators, charting features, real time quotes, inbuilt scanners, brokerage calculator, historical data ,market watch etc. A discount Brokerage firm qualifies for being the best discount brokerage firm when it provides the following facilities like 1) The Opening of Demat account should be free. 2) Trading platform should exhibit technical efficacy.3) Provides the facility of Call and trading. 4) Provision of customer related services 5) Provides full security to one’s personal data and shares. 6) Fund Transfers should be made quickly.
Below is the list of Best Discount Brokers in India–
1) Wisdom Capital- Wisdom capital is the leading Discount Broker who provides services of commodity trading, futures, stocks and options on stock exchanges like NSE and BSE. They provide online automated trading platform and offer three brokerage plan to its investor’si.eFreedom Plan, Pro Plan and ultimate plan which investors can choose as per their requirements.
2)Zerodha- Zerodha is the inventor of this concept of Discount broking and they introduced it in 2010. They introduced trading at Flat Rs 20 per trade irrespective of the volume of the trade. Their fee structure iincludesno brokerage cost for equity delivery, 0.01% or Rs.20 per trade whichever is lower for Equity Intraday or Futures and Rs 20 flat for equity options.
3) 5Paisa- 5Paisa stands in the topranks of the list of best discount brokers as it offers services like car, health and term insuranceapart from just Stock Trading on its portal. They also provide services likefinancial advisory. They are also the 2nd largest discount broker. Their fee structure includes Rs 650 for Opening charges of trade account, zero charge for its maintenance and for opening Demat account and it charges Rs 400 for the maintenance of Demat account.
4)SAS online- They are another great competition in the discount brokerage firms. They aim to provide satisfactory trading services to investors at lower rates. It supports the trading of Equity, commodity(MCX) and currency. In order to setup trade investor can make a choice of desktop, mobile and web versions as trading platform.SAS Online Brokerage offers brokerage charges at Rs 9 per trade for all segments. They also offer a lumpsum plan of Rs499 or Rs 999 per month without charging any extra fees.
These are the best discount brokers in India who provides various broking services to its investors at their own brokerage plans and structures.
